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SEBI introduces framework for Special Situation Funds under AIF Category I
Capital markets regulator SEBI has introduced the framework for Special Situation Funds (SSFs) that will invest only in stressed assets. SSFs have been introduced as a sub-category under Category I Alternative Investment Funds (AIFs) and will invest only in stressed assets such as stressed loans available for acquisition as per RBI norms or as part of a resolution plan approved under the Insolvency and Bankruptcy Code. These funds will also invest in security receipts issued by Asset Reconstruction Companies (ARCs) and securities of companies in distress. SSFs will not accept investments from any other AIF other than a special situation fund. The minimum investment by an investor can be INR 10 crore (INR 5 crore in the case of an accredited investor) and the minimum corpus will be INR 100 crore.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.